Vertex AI Price Forecast: #bitcoin Has 60% Chance Of Hitting $100,000, Key Predictions Unveiled
Spot On Chain, in partnership with Google Cloud's Vertex AI, has analyzed Bitcoin's future price movement.
- Spot On Chain forecasts Bitcoin prices to range between $56,000 and $70,000 from May to July 2024. There's a 48% chance of BTC dropping below $60,000, indicating potential volatility. By late 2024, there's a 63% likelihood of Bitcoin hitting $100,000.
- This mid-term outlook reflects a bullish sentiment, driven by anticipated rate cuts post-FOMC meeting in December 2023. Spot On Chain predicts a strong probability of Bitcoin surpassing $150,000 in the first half of 2025, with a 42% chance, rising to 70% for the entire year.
Anticipated Consolidation Phase
- Retk Capital, a crypto analyst, notes Bitcoin's struggle to breach the $65,600 resistance level. This resistance has stalled Bitcoin's upward momentum, with observed support around $60,600.
- Retk Capital suggests a consolidation phase before an expected upward trend, emphasizing the significance of interpreting downside movement within this context.
As of the latest update, BTC trades at $64,355, marking an approximate 8% decrease over the past two weeks and 30 days.
Source - newsbtc.com
